The Central Bureau of Investigation has arrested former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by the bank to the group in 2012, officials said on Friday. The CBI had booked Chanda Kochhar, her husband and Venugopal Dhoot of Videocon Group, along with companies Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act, they said.
A vacation bench of Justices NJ Jamadar and Sharmila Deshmukh passed the decision on Wednesday while hearing a petition filed by the company challenging two orders of the state government.
Without disclosing other shareholders, Republic Media Network said the statement was being issued to "clarify the details of its promoter shareholding" in view of "misleading" media reports making "false and mala fide claims about the exact ownership of the consolidated network." It said Goswami through his personal investment and family owned around 84 per cent shareholding in ARG Outlier Media Pvt Ltd at the time of launch of the English news channel Republic TV in 2017.
Initiating one of its biggest criminal actions in a money laundering case, the Enforcement Directorate on Wednesday attached assets worth Rs 863 crore of YSR Congress leader Jaganmohan Reddy and his associates in connection with its probe into alleged corruption in an infrastructure project in Andhra Pradesh.
The Delhi High Court Tuesday restrained the Enforcement Directorate from taking any further action pursuant to the attachment of Amnesty International India's funds in connection with a money laundering case.
Kangana Ranaut wraps up the shoot of her maiden production Tiku Weds Sheru.
Rare snow leopard sighted in Himachal's Chicham village.
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
The court said accused cannot leave India without getting its permission.
NDTV founders Prannoy Roy and his wife Radhika Roy have resigned as the directors of promoter group vehicle RRPR Holding Private Limited as the Adani Group neared takeover of the television channel.
The agency said in a statement that a provisional order has been issued under the Prevention of Money Laundering Act "attaching bank accounts of Amnesty International India Pvt Ltd (AIIPL) and Indians for Amnesty International Trust (IAIT)".
Of the deceased, five were from West Bengal, two each from Jharkhand and neighbouring Assam and one from Mizoram's Lunglei district, the official said.
The restrictions on Punjab and Maharashtra Cooperative (PMC) Bank has been extended for another three months till the end of March next year. Reserve Bank of India (RBI) has extended the restrictions as further action on the draft scheme for the takeover of the crisis-hit bank by the Delhi-based Unity Small Finance Bank (USFB) is in process. The central bank had prepared a draft scheme of amalgamation and the same was placed in the public domain on November 22 as part of seeking suggestions and objections, if any, from members, depositors and other creditors of PMC Bank and USFB.
In its FIR filed recently, the CBI has named Khattar and his company Carnation Auto India Limited for allegedly causing a loss of Rs 110 crore to Punjab National Bank.
A court in Mumbai on Friday extended till July 27 the police custody of businessman Raj Kundra in a case related to the alleged creation of pornographic films and uploading them through some apps.
"We received information that Manish Lakra was going towards Haridwar in Uttarakhand. We laid a trap and nabbed him from Ghevra Mod after conducting multiple raids in Delhi and Haryana," Sameer Sharma, Deputy Commissioner of Police (Outer), said.
Tata Motors has inked a pact to acquire Ford India's Sanand-based manufacturing plant for Rs 725.7 crore, as it aims to bolster its passenger vehicle production capacity. As part of the deal, Tata Motors will get the entire land and buildings, vehicle manufacturing plant along with machinery and equipment situated therein, the Mumbai-based auto major said in a statement. The deal also includes the transfer of all eligible employees, it added.
According to the apex court, the disclaimer should say that 'there is no authenticated data to back up the suggestion on figure of conversion and the film represents the fictionalised version'.
The Enforcement Directorate (ED) has arrested Shiv Sena MP Sanjay Raut in a money laundering case linked to alleged irregularities in the redevelopment of a Mumbai 'chawl', officials said.
Maharashtra Deputy Chief Minister Ajit Pawar on Friday said he did not have any connection with Guru Commodity Services Pvt Ltd which is under the Enforcement Directorate's (ED) scanner, though a sugar mill owned by the company is being run by one of his relatives.
The Bombay high court on Friday heard prosecution and defence arguments on the applications of former ICICI Bank CEO and MD Chanda Kochhar and her businessman-husband Deepak Kochhar, challenging their arrest by the Central Bureau of Investigation (CBI) in an alleged loan fraud case, and reserved its verdict which will be delivered on Monday. The Kochhars, along with Videocon group founder Venugopal Dhoot, were arrested by the CBI late last month for their alleged roles in the case and the trio is currently in jail under judicial custody. The Kochhar couple has termed their arrest as "illegal" on the ground that no sanction was obtained prior to the CBI action as required under provisions of the Prevention of Corruption Act (PCA).
Richest Asian Gautam Adani's group on Tuesday said it will pay an additional Rs 48.65 a share to NDTV stockholders who tendered their shares in its open offer to help match what it had paid to buy out a stake of the news broadcaster's founders. Adani Enterprises in a stock exchange filing said it will pay an additional Rs 48.65 per NDTV share to investors, who had sold their shares in an open offer between November 22 and December 5, taking the payout to Rs 342.65 a share and matching what it paid to buy Prannoy Roy and Radhika Roy's stake. Adani Group first acquired Vishvapradhan Commercial Private Limited, a little-known company that had given Rs 403 crore of an interest-free loan to RRPR Holdings - a company founded by the Roys and bore their initials in its name - in 2009-10 in exchange for warrants that allowed it to buy a stake in the newsgroup at any time.
A Delhi court on Thursday denied bail to Aam Aadmi Party leader Satyendar Jain and two others in a money laundering case.
In a stock exchange filing, Adani Enterprises Ltd said VCPL has urged SEBI "to provide its observations on the draft letter of offer filed in relation to the open offer, in accordance with the SEBI (SAST) Regulations."
Casa Everz Gmbh, the owner of Germany-based healthy footwear brand Von Wellx, will be shifting its entire shoe production of over three million pairs annually in China to India with an initial investment of Rs 110 crore, according to a top official of the company's licensee Iatric Industries Pvt Ltd. A new manufacturing unit will be set up with a production capacity of over three million pairs in Uttar Pradesh through a collaboration with Iatric Industries Pvt Ltd as part of an understanding with the state government.
CBI has alleged that Rana Kapoor entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Kapoor's daughters, DoIT Urban Ventures.
The FIPB rejected two proposals -- Nigeria's Mokeme Chiwetal Izuchukwu and Lanarth Developers Pvt Ltd.
Allowing the petition in part, the HC set aside the order of the sessions court and directed the LXXXI additional city civil and sessions judge court to hear afresh the complaint.
The shareholders of Hindustan Lever Ltd have given their nod to the scheme of arrangement between HLL, Shamnagar Estates Pvt Ltd, Jamnagar Properties Pvt Ltd, Hindustan Kwality Walls Foods Pvt Ltd for demerger of shares.
A sum of Rs 2,600.99 has been been allocated for the construction of non-residential office buildings, including the Parliament and Supreme Court of India. For residential purposes, the ministry has been given Rs 873.02 crore.
The CBI has been carrying out searches at various locations for the past few days to locate assets acquired from the proceeds of the scam, officials said.
The Central Bureau of Investigation on Monday filed its first charge-sheet in a Delhi court in the coal blocks allocation case against Navabharat Power Pvt Ltd for allegedly misrepresenting facts and making "fraudulent" claims to "embellish" its applications to get allotments between 2006 and 2009.
ED attaches properties worth Rs 53 crore in quid-pro-quo investments case.
Crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank's takeover by the Unity Small Finance Bank (USFBL) came into effect on Tuesday, with the government notifying the scheme of amalgamation. PMC Bank branches will operate as USFBL branches from Tuesday onwards, the Reserve Bank of India (RBI) said in a statement on Tuesday. The takeover comes into force little over two years after the RBI superseded the board of the PMC Bank after financial irregularities came to light.
Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a $10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt.
Sachin Tendulkar, who led India Legends to title victory in the inaugural edition of the Road Safety World Series, will not be taking part in its second season.
Swan Telecom promoter Shahid Balwa, who along with former Telecom Minister A Raja and 17 others are facing a money laundering case arising out of the 2G scam, on Friday moved the Supreme Court seeking setting aside of a lower court order of framing charges against him.
The lawyer of Videocon Group promoter Venugopal Dhoot on Friday argued before the Bombay high court that the industrialist's arrest in the ICICI Bank loan fraud case was unwarranted as he was cooperating with the probe. The Central Bureau of Investigation (CBI), on the other hand, claimed that he was trying to avoid probe. Dhoot, arrested by the CBI on December 26, 2022, and presently in judicial custody, has moved the high court seeking to quash the First Information Report, and has also sought interim bail.
The Bombay high court on Monday granted bail to former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in a loan fraud case, saying their arrest was not in accordance with the provisions of law. A division bench of Justices Revati Mohite Dere and P K Chavan held that the arrest of Kochhars was in violation of Section 41A of the Code of Criminal Procedure (CrPC), which mandates sending notice for appearance before the police officer concerned. The couple was arrested by the Central Bureau of Investigation (CBI) on December 23, 2022 in connection with the Videocon-ICICI Bank loan case.
The court noted the submissions made by the ED's counsel, who said that Joshi played a vital role in laundering of the proceeds of crime.
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